newbie question for Softmod wii can play any region games????

HI, i just got a wii and i need to ask about after softmodd the wii. Doesn it mean i can play any region games like ntsc U, ntsc J or ntsc E? Currently my wii is korea model and the previous owner have softmodded to ntsc 4.0 U ver. Do i need to update it to 4.3 U? if i got a games is ntsc J ver, can i still rip it to my wii and play it?